Capital One 2002 Annual Report Download - page 25

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23
Year Ended December 31 2002 2001 2000
Average Income/ Yield/ Average Income/ Yield/ Average Income/ Yield/
(In Thousands) Balance Expense Rate Balance Expense Rate Balance Expense Rate
Assets:
Earning assets
Consumer loans(1)
Domestic $ 22,711,141 $ 3,506,732 15.44% $ 14,648,298 $ 2,342,726 15.99% $ 9,320,165 $ 2,060,349 22.11%
Foreign 2,828,855 361,932 12.79% 2,636,008 386,793 14.67% 2,167,611 290,422 13.40%
Total 25,539,996 3,868,664 15.15% 17,284,306 2,729,519 15.79% 11,487,776 2,350,771 20.46%
Securities available for sale 3,873,186 184,407 4.76% 2,526,529 138,188 5.47% 1,611,582 96,554 5.99%
Other
Domestic 1,488,861 116,890 7.85% 593,050 45,877 7.74% 107,416 5,993 5.58%
Foreign 245,556 10,805 4.40% 302,287 7,565 2.50% 45,259 581 1.28%
Total 1,734,417 127,695 7.36% 895,337 53,442 5.97% 152,675 6,574 4.31%
Total earning assets 31,147,599 $ 4,180,766 13.42% 20,706,172 $ 2,921,149 14.11% 13,252,033 $ 2,453,899 18.52%
Cash and due from banks 507,355 171,392 103,390
Allowance for loan losses (1,178,243) (637,789) (402,208)
Premises and equipment, net 802,544 735,282 549,133
Other 2,922,469 2,371,252 1,707,237
Total assets $ 34,201,724 $ 23,346,309 $ 15,209,585
Liabilities and Equity:
Interest-bearing liabilities
Deposits
Domestic $ 14,650,582 $ 748,809 5.11% $ 9,700,132 $ 594,183 6.13% $ 5,313,178 $ 322,497 6.07%
Foreign 956,360 63,080 6.60% 673,379 46,287 6.87% 26,296 1,511 5.75%
Total 15,606,942 811,889 5.20% 10,373,511 640,470 6.17% 5,339,474 324,008 6.07%
Senior notes 5,668,343 422,529 7.45% 5,064,356 357,495 7.06% 3,976,623 274,975 6.91%
Other borrowings
Domestic 5,689,369 226,206 3.98% 2,551,996 145,316 5.69% 2,011,295 142,355 7.08%
Foreign 23,350 1,030 4.41% 440,313 27,726 6.30% 882,120 59,679 6.77%
Total 5,712,719 227,236 3.98% 2,992,309 173,042 5.78% 2,893,415 202,034 6.98%
Total interest-bearing liabilities 26,988,004 $ 1,461,654 5.42% 18,430,176 $ 1,171,007 6.35% 12,209,512 $ 801,017 6.56%
Other 3,065,570 2,134,951 1,299,100
Total liabilities 30,053,574 20,565,127 13,508,612
Equity 4,148,150 2,781,182 1,700,973
Total liabilities and equity $ 34,201,724 $ 23,346,309 $ 15,209,585
Net interest spread 8.00% 7.76% 11.96%
Interest income to average earning assets 13.42% 14.11% 18.52%
Interest expense to average earning assets 4.69% 5.66% 6.05%
Net interest margin 8.73% 8.45% 12.47%
(1) Interest income includes past-due fees on loans of approximately $955.8 million, $769.5 million and $824.9 million for the years ended December 31, 2002, 2001 and 2000, respectively. Interest income includes
$38.4 million related to the one-time impact of the change in recoveries assumption for the year ended December 31, 2002. This resulted in a 12 basis point increase in the net interest margin.
Table 1 provides average balance sheet data, and an analysis of net interest income, net interest spread (the difference between the yield on earning assets and
the cost of interest-bearing liabilities) and net interest margin for each of the years ended December 31, 2002, 2001 and 2000.
Table 1: Statements of Average Balances, Income and Expense, Yields and Rates